Govt loses N847bn to gas flaring – NOSDRA
The Federal Government lost about N843bn to gas flaring between January 2022 and August 2023, data obtained from the National Oil Spill Detection and Response Agency has shown. NOSDRA, in its latest gas flare report, disclosed that oil and gas companies operating in the country, between January and August 2022, flared 147.1 billion SCF of […]
Naira among Africa’s worst currencies, falls by 40% –W’Bank
The Nigerian naira is among the worst-performing currencies in Africa, the World Bank has said. It noted that the currency weakened by nearly 40 per cent against the US dollar since a mid-June devaluation. The global bank explained in its report titled, ‘Africa’s Pulse: An analysis of issues shaping Africa’s economic future (October 2023 | […]
Subsidy removal: Coys’ distribution cost jumps to N155bn in Q2’23
The distribution cost for leading consumer goods companies quoted on the Nigerian Exchange Limited (NGX) rose to N166.43 billion in the second quarter ended June 30, 2023, on the back of fuel subsidy removal and rising energy cost. This represents a 13.32 percent increase compared to N137.17 billion recorded in the corresponding period in 2022. Mrs […]